HDC Hyundai Development chairman Chung Mong-kyu is garnering attention as the June 27 deadline for the acquisition of Asiana Airlines is approaching.HDC Hyundai Development signed a stock purchase agreement (SPA) with Kumho Industrial Co. in December 2019 to take over the ailing airline. This contra
Chinese electric vehicle (EV) battery makers are preparing to strike back at LG Chem by strengthening cooperation with global automakers.Volkswagen Group in Germany has reportedly decided to acquire a 26.5 percent stake in Chinese battery maker Guoxuan for 1.1 billion euros. Guoxuan is a Chinese com
The authors are analysts of KB Securities. They can be reached at jeff.kim@kbfg.com and goun.whang@kbfg.com, respectively. -- Ed. Samsung Electronics (SEC) and SK Hynix (SKH) shares skyrocketSEC/SKH shares ended June 3 up 6.0%/6.5% (vs. previous closing prices), marking 28%/29% increases from March
Hyundai Mobis announced on June 8 that it has developed an artificial engine sound system for electric vehicles that uses the grill cover of the vehicle.As an electric vehicle emits almost no noise, it is necessary to inform pedestrians of the direction in which the vehicle is going or whether it is
The Korean economy is fast contracting as the negative impact of COVID-19 spreads across all industries, the Korea Development Institute (KDI) announced on June 8.In its latest monthly economic trends report, the state-run think tank said that April’s all industry production dropped sharply on shrin
With the ongoing spread of the COVID-19 pandemic, venture capital (VC) investments in the biotech and medical sectors have seen a sharp increase.The Korea Venture Capital Association (KVCA) announced on June 7 that fresh VC investments in the first quarter of this year totaled US$620 million (746.3
Shinhan Bank India announced on June 5 that it co-hosted a web seminar with Bombay Stock Exchange (BSE) on the subject of foreign exchange risk management.Shinhan Bank India hosted two web seminars in May for its own customers. The latest web seminar, co-hosted with BSE, was open to general corporat
Daewoong Pharamaceutical and its subsidiary Daewoong Therapeutics announced on June 5 that DWRX2003 (niclosamide) has proven to be efficacious in removing the SARS-CoV-2 virus in the initial animal testing the company conducted.Daewoong Therapeutics collaborated with Chungbuk National University to
U.S.-China conflicts are escalating over the Hong Kong Security Law.The Korea CXO Research Institute announced on June 7 that the top 10 conglomerates of South Korea are running 2,652 subsidiaries in 101 countries and the number of such subsidiaries increased by 72 in one year.The subsidiaries inclu
The Financial Services Commission announced on June 7 that it would submit a bill to the National Assembly in September this year so that it can receive business improvement plans from the six non-bank-based financial conglomerates failing to meet capital adequacy requirements.The bill covers every
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Cost reductions stemming from a drop in the Dubai crude price (to US$30/bbl) are to be reflected from 3Q20. And, changes in electricity demand following the Covid-19 outbreak are to translate int
As non-face-to-face and online businesses have emerged as promising areas in wake of the COVID-19 outbreak, "telepresence robots" are garnering interest.A telepresence robot places you at a remote location instantly, providing you with a virtual presence. The robot allows you to interact with people
The students of Dulwich College Seoul located in Banpo-dong delivered a thank-you message to the Korea Centers for Disease Control and local medical professionals on June 5. Representing over 40 countries from around the world, the students from Dulwich College Seoul, aged 4 to 18, have observed the
SK Hynix's social value (SV) created in 2019 has decreased by more than 6 trillion won compared to 2018. As semiconductor market conditions deteriorate, tax payment, dividends, and donation activities shrank due to decreased sales.SK Hynix announced on June 4 that its social value generated in 2
Samsung Electronics announced on June 4 that it has chosen 28 external R&D projects for financial support in the first half of 2020 under the Samsung Future Technology Development Project.The project was launched in 2013 to foster science and technology. Samsung Electronics will invest 1.5 trillion
Korean Air will sell its highly lucrative in-flight meal business to secure liquidity as its plan to sell the land parcel in Songhyeon-dong, central Seoul has hit a snag.Credit Suisse (CS), which has been requested by Korean Air to estimate the value of its assets, will send teaser letters (investme
SK Group is considering investing about 100 billion won in Air Asia, Asia's largest low-cost carrier (LCC).The group said on June 4 that SK Southeast Asia Investment Corp. has received a proposal from Malaysian-flagged LCC Air Asia to invest in it for a 10 percent stake. SK Southeast Asia Invest
Deputy Prime Minister Hong Nam-ki remarked on June 4 that the government would handle the conflict between accommodation sharing and traditional accommodation services within this year.According to him, the government is going to provide assistance so that the two sectors can make mutual concessions
The Financial Supervisory Service announced on June 4 that Samyang Holdings, which is the holding company of Samyang Group, posted a total profit of 58.1 billion won last year, including 35.9 billion won derived from internal transactions. The ratio was 61.8 percent in 2019 and approximately 40 perc
Shinhan Bank and Hana Bank have signed an agreement with the African Export-Import Bank (Afreximbank) to participate in a US$1 billion (1.2 trillion won) syndicated loan.The two banks’ joint participation in a syndicated loan is the first case of cooperation between Shinhan Financial Group and Hana